Davies, a professional services and technology solutions provider to the insurance sector, has acquired MDD, an international forensic accounting company.
The move will bolster Davies’ Global Solutions division by establishing a new global forensic accounting capability.
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MDD brings expertise in economic damage assessment related to various insurance claims and legal disputes.
With a team of over 330 professionals, MDD has served more than 1,000 international clients from over 40 offices worldwide, spanning regions such as North America, Latin America, Europe, Asia and Australasia.
The integration of MDD into Davies’ Global Solutions division is expected to enhance the company’s offerings to its clients in the insurance and other regulated markets.
Davies’ clients will now have access to independent and leading forensic accounting solutions across five continents, complementing the company’s existing services in claims management, insurance, consulting and technology.
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By GlobalDataDavies Global Solutions CEO Mark Grocott will oversee the new business line, with MDD CEO Paul McGowan joining his executive team and reporting directly to him.
Following the acquisition, Davies now has a workforce of 8,000 operating from 20 countries, with significant operational centres in the UK and US.
The addition of MDD expands Davies’ growing presence in the Asia-Pacific region.
Davies Group CEO Dan Saulter said: “MDD has an enviable international reputation for expertise in the field of forensic accounting alongside delivering excellent results for its insurance and wider client base.
“This deal is a further demonstration of our ambition to add new capabilities, invest in pioneering technologies, and in top talent across the world to provide our clients with end-to-end services across the entire insurance life cycle, with Davies as their strategic partner.”
McGowan added: “In Davies, we have found a like-minded business offering expanded professional growth opportunities for our employees, enhanced capabilities to better serve our clients through continued expansion across global markets, investment in technology driven solutions, while maintaining a platform to attract similarly aligned entrepreneurs.”
This acquisition follows Davies’ November 2023 deal to acquire four claims and services businesses from Brown & Brown Insurance.
